2024-02-15T00:53:03-06:00 2023-03-31 221478099 COHNREZNICK LLP 816 CONGRESS AVENUE SUITE 200 AUSTIN TX 78701 990 2022-04-01 710876762 GROVE PLACE PARTNERS GP INC DBA THE SAFE ALLIANCE AFFORDABLE HOUSING CORP GROV 5123561556 PO BOX 19454 AUSTIN TX 78760 JULIA SPANN EXECUTIVE DIRECTOR 5123561556 2024-02-14 1 JULIA SPANN XXX-XX-XXXX 0 MICHAEL S CELKIS CPA P01296719 5124949100 2024-02-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JULIA SPANN PO BOX 19454 AUSTIN TX 78760 3045950 0 X WWW.SAFEAUSTIN.ORG X 2002 TX PROVIDING AFFORDABLE HOUSING TO LOW-INCOME AND MODERATE-INCOME PEOPLE IN TRAVIS COUNTY, TEXAS 7 7 0 0 0 0 0 1000000 1966604 2045644 212 306 0 0 1966816 3045950 0 0 0 0 298618 267362 0 0 0 1484469 1989933 1783087 2257295 183729 788655 9872862 16002417 5930895 11500229 3941967 4502188 PROVIDING AFFORDABLE HOUSING TO LOW-INCOME AND MODERATE-INCOME PEOPLE IN TRAVIS COUNTY, TEXAS 0 0 2242120 3045950 ENHANCING THE CREATION OF NEW HOUSING AND THE REHABILITATION OF EXISTING HOUSING IN NEIGHBORHOODS LOCATED IN TRAVIS COUNTY, WITH SPECIAL EMPHASIS PLACED ON CREATING RENTAL HOUSING FOR LOW-INCOME AND MODERATE-INCOME FAMILIES, PROMOTING AND CREATING PROGRAMS TOENCOURAGE HEALTH AND SOCIAL SERVICES IN LOW-INCOME AND MODERATE-INCOME NEIGHBORHOODS, PROVIDING HOUSING THAT IS AFFORDABLE TO LOW-INCOME AND MODERATE-INCOME CLIENTS OF THE SAFE ALLIANCE AND CREATING A SAFE, STABLE ENVIRONMENT FOR FAMILIES TO REBUILD THEIR LIVES. 2242120 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 0 0 0 0 1 1 X JULIA SPANN 5129274741 PO BOX 19454 AUSTIN TX 78760 X KAREN BARTOLETTI DIRECTOR 1.00 X 0 0 0 TREY HANCOCK DIRECTOR 1.00 X 0 0 0 JULIA SPANN SECRETARY/EXECUTIVE DIRECT 2.00 X X 0 0 0 KARL NICHOLS DIRECTOR 1.00 X 0 0 0 VERONICA VEGA-MARTINEZ DIRECTOR 1.00 X 0 0 0 MICHAEL SIMONS DIRECTOR 1.00 X 0 0 0 THOMASINA TIJERINA DIRECTOR 1.00 X 0 0 0 KRISTA DEL GALLO DIRECTOR 1.00 X 0 0 0 ANTONIO GARZA DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 1000000 1000000 RENTAL INCOME 531390 2013963 2013963 OTHER INCOME 531390 31681 31681 2045644 306 306 3045950 2045950 0 0 267362 267362 70326 70326 64134 64134 10132 10132 335608 335608 688821 688821 179604 179604 UTILITIES 276679 276679 REPAIRS 187461 187461 GENERAL & ADMIN 96960 81785 15175 BAD DEBT 78219 78219 1989 1989 2257295 2242120 15175 0 266391 6774852 59288 11814 59273 54674 14818118 6337016 8520834 8481102 165875 261511 801201 418464 9872862 16002417 78009 131784 5810604 11293000 42282 75445 5930895 11500229 X 3941967 3502188 1000000 3941967 4502188 9872862 16002417 X 788655 -228434 X 0 1 X 0 0 X X 1 THE SAFE ALLIANCE 742320657 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1232832 1232832 13585286 6337016 7248270 8481102 SECURITY DEPOSITS 39160 DUE TO SAFE 36285 75445 X 3005335 0 3005335 40615 40615 3045950 2121167 0 2121167 136128 136128 2257295 PART X, LINE 2: THE ORGANIZATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) TO BE TREATED AS A TAX EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED MARCH 31,2023. DUE TO ITS TAX EXEMPT STATUS, THE ORGANIZATION IS NOT SUBJECT TO INCOME TAXES. THE ORGANIZATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE ORGANIZATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. THE SUBSIDIARY HAD ELECTED TO BE TREATED AS A PASS-THROUGH ENTITY FOR INCOME TAX PURPOSES AND, AS SUCH, WAS NOT SUBJECT TO INCOME TAXES. RATHER, ALL ITEMS OF TAXABLE INCOME, DEDUCTIONS AND TAX CREDITS WERE PASSED THROUGH TO AND ARE REPORTED BY ITS OWNERS ON THEIR RESPECTIVE INCOME TAX RETURNS. THE SUBSIDIARY'S FEDERAL TAX STATUS AS A PASS-THROUGH ENTITY WAS BASED ON ITS LEGAL STATUS AS A PARTNERSHIP. ACCORDINGLY, THE SUBSIDIARY WAS NOT REQUIRED TO TAKE ANY TAX POSITIONS IN ORDER TO QUALIFY AS A PASS-THROUGH ENTITY. THE SUBSIDIARY HAD BEEN REQUIRED TO FILE AND DID FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES IN PRIOR YEARS. ACCORDINGLY, THESE CONSOLIDATING FINANCIAL STATEMENTS DID NOT REFLECT A PROVISION FOR INCOME TAXES AND THE SUBSIDIARY HAD NO OTHER TAX POSITIONS COMPANY ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2020 REMAIN OPEN. THE PASS-THROUGH ENTITIES HAVE BEEN DISREGARDED DURING THE CURRENT TAX YEAR AND WERE NOT REQUIRED TO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. DISREGARDED ENTITIES LISTED ON SCHEDULE R PART 1, GROVE PLACE PARTNERS LIMITED, LLC AND GROVE PLACE PARTNERS, LTD BEGINNING APRIL 1, 2020, AND SAFE LANCASTER COURT, LLC BEGINING APRIL 1, 2022, ARE 100% OWNED BY GROVE PLACE PARTNERS GP, INC. AND ARE THEREFORE TAX EXEMPT IN THIS REPORTING PERIOD. PART XI, LINE 4B - OTHER ADJUSTMENTS: BOOK TO TAX DIFFERENCE FOR GROVE PLACE PARTNERS, GP BOOK TO TAX DIFFERENCE FOR GROVE PLACE PARTNERS, LTD. 40,615. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOK TO TAX DIFFERENCE FOR GROVE PLACE PARTNERS, LTD. 136,128. FORM 990, PART VI, SECTION A, LINE 7A SECTION 2.4 OF THE BYLAWS SAY THAT THE BOARD OF DIRECTORS OF GROVE PLACE PARTNERS GP, INC. SHALL BE ELECTED BY THE BOARD OF DIRECTORS OF THE SAFE ALLIANCE. UNDER ARTICLE II OF THE BYLAWS, THE BOARD OF DIRECTORS OF THE SAFE ALLIANCE ALSO HAS THE POWER TO REMOVE AND REPLACE DIRECTORS OF GROVE PLACE PARTNERS GP, INC. FORM 990, PART VI, SECTION A, LINE 7B ARTICLE VI OF THE RESTATED CERTIFICATE OF FORMATION (NUMBERS 9 AND 10 OF THE LAST PARAGRAPH) PROVIDES THAT NEITHER THE CERTIFICATE OF FORMATION OR THE BYLAWS OF GROVE PLACE PARTNERS GP, INC. MAY BE AMENDED WITHOUT THE PRIOR APPROVAL OF THE SAFE ALLIANCE. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT 990 IS PROVIDED TO THE BOARD AND REVIEWED PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IN ACCORDANCE WITH ARTICLE VII OF THE GROVE PLACE BYLAWS, AN ANNUAL PROCEDURE WILL BE FOLLOWED TO RECORD ANY POSSIBLE OR REAL CONFLICTS OF INTEREST. A COPY OF THIS POLICY IS TO BE SIGNED BY ALL INCOMING BOARDMEMBERS PRIOR TO THEIR FIRST BOARD MEETING AND BY EXISTING BOARD MEMBERS WITHIN 30 DAYS OF THIS DOCUMENT BEING APPROVED BY THE BOARD. THE SIGNED DOCUMENTS WILL BE STORED FOR A PERIOD OF SEVEN YEARS OR UNTIL THE BOARD TERM RENEWS OR EXPIRES. SHOULD THIS DOCUMENT BE AMENDED, BOARD MEMBERS WILL BE ASKED TO SIGN THE AMENDED DOCUMENT WITHIN 30 DAYS OF THE AMENDMENT BEING APPROVED BY THE BOARD. FULL DISCLOSURE, BY NOTICE IN WRITING, WILL BE MADE BY THE BOARD MEMBER TO THE FULL BOARD OF DIRECTORS OF ANY PERCEIVED CONFLICTS OF INTEREST. A BOARD MEMBER, OFFICER, OR STAFF MEMBER WILL NOT PARTICIPATE IN ANY DISCUSSION OR DEBATE OF THE BOARD OF DIRECTORS, OR OF ANY COMMITTEE OR SUBCOMMITTEE THEREOF, IN WHICH THE SUBJECT OF DISCUSSION IS A CONTRACT, TRANSACTION, OR SITUATION IN WHICH THERE MAY BE A PERCEIVED OR ACTUAL CONFLICT OF INTEREST. HOWEVER, THEY MAY BE PRESENT TO PROVIDE CLARIFYING INFORMATION IN SUCH A DISCUSSION OR DEBATE UNLESS OBJECTED TO BY ANY PRESENT BOARD MEMBER. ALL BOARD MEMBERS WILL SIGN A STANDARD OF CONDUCT POLICY FORM. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST, GROVE PLACE PARTNERS GP, INC. WILL MAKE GOVERNING DOCUMENTS, POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS DISTRIBUTIONS TO SAFE ALLIANCE -323,947. GROVE PLACE PARTNERS LTD AUDIT ELIM ENTRY GROVE PLACE PARTNER LTD BOOK TO TAX DIFFERENCES 95,513. GROVE PLACE PARTNERS LIMITED LLC 1515A GROVE BOULEVARD AUSTIN TX 78741 APARTMENT RENTALS TX GROVE PLACE PARTNERS GP INC GROVE PLACE PARTNERS LTD 1551 GROVE BLVD AUSTIN TX 78741 352178404 APARTMENT RENTALS TX -200276 -462533 GROVE PLACE PARTNERS GP INC SAFE LANCASTER COURT LLC 1515-A GROVE BOULEVARD AUSTIN TX 78741 APARTMENT RENTALS TX 989106 1989106 GROVE PLACE PARTNERS GP INC THE SAFE ALLIANCE PO BOX 19454 AUSTIN TX 78760 741977853 SUPPORT TX 501(C)(3) LINE 12A, I N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SAFE LANCASTER COURT LLC C 1000000 CASH